b'Whetherviewedintermsofnationalmarketsharesandconcentrationratios,regionalmarketingareas,orindividual accounts,theacquisitionofPanaconbyCelotexresultedin asubstantiallesseningofcompetitionintheasphaltandtar roofingindustrybyincreasingfourandeight-firm concentration, increasingCelotex\'snationalmarketshare,andeliminating PhilipCarey/Panaconasasubstantial,independentcompetitive force. Discussingthefacts,andthelawasappliedtothosefacts,the Judgestated: MarketConcentration Evidenceofatrendtowardconcentrationisfoundinthe factthatsince1969therehavebeensixmergersbetweencompetitorsintheindustryotherthanthatbetweenPanaconand Celotex.ThetrendwasfurtheredwhenCelotexacquiredPanacon, andintheopinionoftheeconomistcalledattheinstanceof complaintcounsel,theindustryhadreachedalevelofconcentrationatwhicheconomicperformancefrequentlydeteriorates. Thiscasefallssquarelywithintheprinciplethat where therehasbeena"historyoftendencytowardconcentrationin theindustry,"tendenciestowardfurtherconcentration"aret o becurbedintheirincipiency. 11Where"concentrationisalreadygreattheimportanceofpreventingevenslightincreases inconcentrationandsopreservingthepossibilityofeventual deconcentrationiscorrespondinglygreat." competitiveEffects PhilipCarey/PanaconandCelotexweremajorcompetitors intheasphaltandtarroofingproductsindustryandthey heldsignificant marketshares.Thecompetitionbetween themwaskeenandsubstantial.TheacquisitionofPanaconby Celotexeliminatedasignificant,independentandvigorous competitorwiththeresultthatthebuyingoptionsavailable topurchasersofasphaltandtarroofingproductswerereduced sincePhilipCarey/Panaconwaseliminatedasanindependent sourceofsupply. Havingfoundaviolationoftheantitrustlaws,whatthenisthe remedy?BasicallytheJudgeordereddivestituredisgorgingthatwhich hasbeenillegallyacquired.Theformofdivestiture,however,remains tobedetermined.TheJudgestated: ThePhilipCarey/Panaconplantsshouldbesoldasgoingconcerns(1)separatelytodifferentbuyers,preferablyneworsmall competitors,(2)asaunit,or(3)spunofftoanewly-created corporation.Oneyearseemsreasonabletoaccomplishadivestitureofthissize.'